The Manufacturers Life Insurance Company Sells 32,747 Shares of Newmont Co. (NYSE:NEM)

The Manufacturers Life Insurance Company decreased its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 809,032 shares of the basic materials company's stock after selling 32,747 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Newmont worth $30,112,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock valued at $88,580,000 after acquiring an additional 865,213 shares in the last quarter. Brookstone Capital Management bought a new stake in Newmont during the 4th quarter worth $245,000. Moody National Bank Trust Division increased its holdings in Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock worth $822,000 after purchasing an additional 2,645 shares in the last quarter. Finally, Avanza Fonder AB bought a new position in Newmont in the fourth quarter valued at about $4,269,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.

Newmont Stock Up 2.8 %

Shares of NYSE NEM traded up $1.42 during trading on Monday, hitting $52.95. 4,472,931 shares of the company traded hands, compared to its average volume of 9,832,755. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The firm has a market capitalization of $58.93 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 0.41 and a beta of 0.30. The business's fifty day moving average is $48.59 and its 200 day moving average is $44.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period last year, the company earned $0.55 earnings per share. Equities research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. Newmont's payout ratio is 22.42%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NEM shares. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their price target for the company from $50.00 to $60.00 in a research report on Friday, April 11th. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective for the company. Raymond James reiterated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Finally, Royal Bank of Canada raised their price target on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $55.63.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.